Cattle and beef prices are at record levels in every industry sector, from cow/calf to retail beef prices. These record prices are obviously supported by a very unusual set of supply and demand circumstances.
“Effective with the August 2015 delivery month, the amendments will allow heifers to be deliverable against the Live Cattle Futures contract but be subject to additional eligibility requirements,” noted the CME announcement of the decision. The additional restrictions are as follows:.
Cash fed cattle prices drifted lower last week as the live cattle futures took a nose-dive and packers seized on the opportunity to buy cattle cheaper. Compared to the $150-152 live and $240 dressed prices seen in the previous week, last week saw the bulk of trade happen at $150 live and $237-240 dressed.
The largest collaboration between Walmart and U.S. Meat Export Federation (USMEF) in Central America to date recently concluded in four countries in the region. Walmart in Costa Rica, Guatemala, El Salvador and Nicaragua worked with USMEF on a six-week “Ten New U.
And up we go (again)! Packers took the steer by the proverbial horns last week in the cash markets. They were apparently undaunted by their $100-perhead losses as they bid up the price of cash cattle to $150-152 live and $240-242 dressed mid-week.
The largest food industry trade show in the Middle East, the Gulfood Show in Dubai, is the first stop for the group, which includes representatives from the Cattlemen’s Beef Board, United Soybean Board, Illinois Corn Marketing Board, Iowa Corn...
The most recent Cattle on Feed report was called bearish for the markets as onfeed populations and placements were higher than expected, and marketings were lower than expected. The most surprising of the numbers was placements, which far outstripped industry expectations.
All was quiet on the beef front last week. The same could not be said for the world of pork, however, as the Humane Society of the U.S. fired shots over the bow of the pork industry. Look for more information on that unfolding story in this week’s Beef Bits and next week’s issue of WLJ.
“We had assumed that under the continuation of the old law that more land would be planted to corn because of the ACRE program,” Glauber said. “Now with the new programs based on base acres, we think there will be more flexibility. They will look at the soybean-to-corn price ratio and will plant a little less corn than normal.
There were plenty of hints. In 2011, a 45 percent increase in grid premiums to $32.3 million did not in itself constitute a trend. But USDA’s mandatory reporting, never known for overstating, showed 2012 starting with a CAB premium of $8 per hundredweight (/cwt.
AgriBank, the Farm Credit System district bank that sources funds for Farm Credit Associations covering half of the nation’s cropland, still sees wide disparities in farmland appreciation, depending on the 15 states within its territory.
According to the Purdue Farmland Value Survey, Indiana farmland values have nearly tripled in the last 10 years—from an average of $2,509 per acre in 2003 to $7,446 in 2013. But abundant corn and soybean crops in 2013 have caused commodity prices to fall, making farm profit margins much tighter.
While the cash trade last week seemed indecisive—at first sending signals that the market would be steady to lower, then later suggesting it would be steady to higher—the big questions focused on what packers would be doing.
While producers seem to be supporting a push for the Trans-Pacific Partnership (TPP) to be finalized, media outlets across the U.S. seem to be skipping the topic. It is far from an apparent “hot topic” in most areas, and skeptics are questioning the chances of it going anywhere with the discourse in the White House.
The most recent World Agricultural Supply and Demand Estimates (WASDE) report held few surprises. The biggest movers, however, were the increased export estimates for corn and the increased production of beef being offset by decreases in pork.
Cash priced continue to settle lower, making the second week this year where the cash fed cattle market did not set a new high record. Compared to the prior week which saw live prices at $144-146 and dressed prices at $230-232, the meager number of sales which had been recorded by last Thursday had declined to $139-141 live and $225 dressed.
The now-annual Cattle Inventory report was released on the last day of January. The verdict is a slightly bullish, hopeful one. Beef replacement heifers were up, and even if they weren’t up as high as had been hoped, there are several details that inspire optimism for the future.
Do you remember when you were in grade school and the science project was to watch and record the process of metamorphosis from caterpillar to butterfly? One day, the funny looking bug was hanging from a twig, the next it was encased in a cocoon, and then suddenly a butterfly was fluttering around the plastic box.
steady pace throughout the last few decades. As of the most recent WASDE report, export of commodity crops around the world was 15.2 percent of total global production. In 1984, that number was 14.8 percent, in 1994 it was 14.2 percent, and in 2004 it was 14.
It’s been a hard year for the West in terms of drought, and the far western states especially. While much of the western U.S. has seen a lessening of drought incidence and intensity, states like California and Nevada are bearing the brunt of the western drought with swaths of red taking up residence in their territories.